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Tag: Naira
As Naira Loses 39%, Manufacturers May Embark On Mass Retrenchment
The naira has depreciated by 38.9 percent against the United States dollar at the official I&E window of the Central Bank of Nigeria in the past three months, according to…
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Naira slumps to N1,043 at official market
The Nigerian Naira reached a new low on Thursday, closing at N1,043.09 per dollar in the official market. The domestic currency depreciated by 16.35% to close at N1,043.09 to…
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Nigerians groan as Naira scarcity persists nationwide
Few days into the Christmas and New Year celebrations, Nigerians are again faced with the scarcity of Naira notes. The development is coming despite the assurance of the Central Bank…
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For the second time in a week, the value of the Naira falls against the dollar.
The naira, Nigeria’s currency, depreciated against the US dollar on Wednesday at the foreign exchange market. Official data from FMDQ showed that the country’s currency depreciated to N840.53 against the dollar…
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FG Will Shock Speculators Hoping Dollar Value Will Increase Against Naira – VP Shettima
The vice president asserts that Tinubu has far more forward-thinking ideas than currency speculators. Vice President, Kashim Shettima has assured that the new monetary policies rolled out by his…
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Naira Depreciates to N1040 Per Dollar on the Exchange Market
The parallel market exchange rate for the naira is now N1040. The depreciation, according to Forex dealers who spoke with Nairametrics, is the result of heightened scarcity, with the influx…
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Naira is one of Africa’s worst-performing currencies, according to the World Bank
The Nigerian naira is one of the worst-performing currencies in Africa, according to the World Bank. Since a devaluation in mid-June, the currency, according to the study, has fallen by…
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Dollar Value Drops To N930 Per Naira
On Thursday, the parallel market, an illegal foreign currency market, saw the naira drop to N930 to the dollar. The reason for this is because Nigerian banks are unable to…
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Dollar Now N850 At Parallel Market
On Wednesday's parallel market, the naira strengthened further versus the US dollar, closing at 850/dollar. The Central Bank of Nigeria stated its intention to intervene in the foreign exchange market…
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Naira drops further, exchanges at N945/$1
The Naira fell even more on Thursday in the black market, trading in Abuja at N945 to the dollar as opposed to N925 the day before. However, the Naira closed…
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